Needham & Company Maintains a 'Buy' on Ultra Clean (UCTT); Strong Rebound of Core Semi Business
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Price: $84.93 -8.59%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Ultra Clean (NASDAQ: UCTT) price target of $10.00.
Analyst, Y. Edwin Mok, said, "UCTT reported better than expected 1Q12 results due to a strong rebound of core semi business. Margins expanded meaningfully as previously completed operational improvements started to generate benefits. While guidance lacks upside, we believe this was largely expected due to weakness in several non-semi areas, including FEIC, MOCVD and FPD. With several wins likely to drive longer-term growth, we maintain our rating."
"We raise our 2012E EPS to $0.68 on better margins, but trim 2013E EPS to $0.82 on a more conservative top line & OPEX."
For an analyst ratings summary and ratings history on Ultra Clean click here. For more ratings news on Ultra Clean click here.
Shares of Ultra Clean closed at $7.25 yesterday.
Analyst, Y. Edwin Mok, said, "UCTT reported better than expected 1Q12 results due to a strong rebound of core semi business. Margins expanded meaningfully as previously completed operational improvements started to generate benefits. While guidance lacks upside, we believe this was largely expected due to weakness in several non-semi areas, including FEIC, MOCVD and FPD. With several wins likely to drive longer-term growth, we maintain our rating."
"We raise our 2012E EPS to $0.68 on better margins, but trim 2013E EPS to $0.82 on a more conservative top line & OPEX."
For an analyst ratings summary and ratings history on Ultra Clean click here. For more ratings news on Ultra Clean click here.
Shares of Ultra Clean closed at $7.25 yesterday.
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